June 30, 2010
ART Buys Canadian Start-Up
Arrhythmia Research Technology Inc. of Fitchburg has completed the purchase of Canadian development-stage company RMDDx Corp.
RMDDx, headquartered in Prince Edward Island, aims to provide mobile cardiac telemetry monitoring services. ART said the acquisition will let it move into the medical device and diagnostic services market and also give it a platform for its software.
ART issued 115,033 shares of its unregistered common stock and five-year options to acquire 60,000 shares, exercisable at $4.76 per share in exchange for all outstanding shares and options of RMDDx.
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